Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will set out every online marketplace that has been issued with a joint and several liability notice and the number of notices issued to each of those online marketplaces due to overseas sellers failing to meet UK VAT requirements since September 2016.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC cannot comment on the affairs of individual taxpayers, as it has a duty to maintain taxpayer confidentiality.
However, between September 2016 and 30 November 2017, HMRC has issued 862 notices to online marketplaces. In all cases the online marketplace has removed the non-compliant overseas seller from its platform.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will set out every enforcement action taken against online marketplaces that have been issued with a joint and several liability notice due to overseas sellers failing to meet UK VAT requirements since September 2016.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HMRC cannot comment on the affairs of individual taxpayers, as it has a duty to maintain taxpayer confidentiality.
However, between September 2016 and 30 November 2017, HMRC has issued 862 notices to online marketplaces making them jointly and severally liable for future VAT evasion by non-compliant overseas sellers. In all cases the online marketplace has removed the seller from its platform.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he has taken to deter UK-headquartered multinational companies from using tax havens to avoid paying tax in developing countries.
Answered by Jane Ellison
The UK has been at the forefront of the OECD Base Erosion and Profit Shifting (BEPS) Project to address the issue of multinational companies shifting profits to low or no tax locations where there is little or no economic activity.
We have been participating in the ‘Inclusive Framework on BEPS Implementation’, which brings together 94 developed countries and developing countries to implement the BEPS outcomes. Through the G20 we have commissioned toolkits to assist developing countries in implementation.
We have also funded assistance to help developing country tax authorities tackle tax avoidance by multinational companies, such as supporting the OECD’s Tax Inspectors Without Borders initiative, which has raised over $260 million additional revenue for developing countries.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether when considering rates of UK corporation tax it is his Department's policy to take into account the spillover effect that a reduction in the UK's rate of corporation tax would have on other countries.
Answered by Jane Ellison
The Government is cutting the rate of corporation tax to 17% by 2020 to deliver a tax system that better supports growth and innovation. The Government has no current plans to conduct a spillover analysis.
The Government is committed to a competitive and fair tax system, and has led international efforts to tackle tax evasion and avoidance while supporting developing countries to implement tax reforms.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many commercial debt management companies have applied for a licence but have been declined by the Financial Conduct Authority in the last five years.
Answered by Simon Kirby
This is an operational matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honourable gentleman by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many commercial debt management companies that have been refused a licence by the Financial Conduct Authority have appealed its decision in the last five years; and how many of those companies won their appeal.
Answered by Simon Kirby
This is an operational matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honourable gentleman by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the average cost to the Financial Conduct Authority is of each appeal process.
Answered by Simon Kirby
This is an operational matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honourable gentleman by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many commercial debt management companies have been authorised by the Financial Conduct Authority in the last five years.
Answered by Simon Kirby
This is an operational matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honourable gentleman by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the Financial Conduct Authority's statutory deadline is for an authorisation for regulated activity once an application for a licence has been lodged.
Answered by Simon Kirby
This is an operational matter for the Financial Conduct Authority (FCA), which is operationally independent from Government.
The questions have been passed on to the FCA. The FCA will reply directly to the Honourable gentleman by letter. A copy of the letter will be placed in the Library of the House.